Is Hannover Rück (HNR1.DE) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. Hannover Rück (HNR1.DE) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Insurance - Reinsurance”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 20 September 2026.
Hannover Rück is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Fail |
| Interest-bearing debt | 30% | 13.75% | Pass |
| Cash and interest-bearing investments | 30% | 195.00% | Fail |
| Prohibited income | 5% | 2.25% | Pass |
| Not just cash and debts | 90% | 173.16% | Review |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (Yahoo industry “Insurance - Reinsurance”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- Cash and interest-bearing investments are 195.0% of the company’s 36-month average market value. AAOIFI’s limit is under 30% (Shari'ah Standard 21, 3/4/3).Source: AAOIFI Shari'ah Standard 21
- The not just cash and debts test couldn’t be settled: Almost all of the company’s assets are cash, investments and receivables, so it may be a cash shell. Check what it does before investing.Source: AAOIFI Shari'ah Standard 21
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Frequently Asked Questions about Hannover Rück SE (HNR1.DE)
Is Hannover Rück (HNR1.DE) stock halal?▾
No. Hannover Rück (HNR1.DE) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (Yahoo industry “Insurance - Reinsurance”), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 20 September 2026.
What is Hannover Rück's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. Hannover Rück's ratio is about 13.8%.
How much dividend purification is required for Hannover Rück (HNR1.DE) stock?▾
Hannover Rück does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does Hannover Rück operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. Hannover Rück's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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